Nobody Wants to CIB
Mitch Daniels and Pat Bauer did not agree on much over the past six months, but one thing both men agree on is neither one of them wants to deal with Capital Improvement Board issue next session.
I’m paraphrasing here, but Daniels said “as long as he’s Governor, he never wants to see another CIB bill.” Bauer blamed the CIB as the reason for the special session saying it caused resentment among out-state lawmakers whose communities had their own needs and thought Indianapolis was getting special treatment.
So what’s a Mayor, who did not create this mess but unfortunately owns it, to do?
Well I still think the Mayor can beat the shortfall in part by collecting all non-pacer revenue from Conseco Fieldhouse which is $7-9 million. That would go a long way to close the gap.
But in the event that doesn’t work, if you can beat em, privatize them. That’s right, turn the management of Conseco Fieldhouse, the Convention Center and Lucas Oil Stadium over to a private company. In exchange for the private company eating the operating expenses, the city can let them keep most of the profits.
Think of of as renting your home through a private management company. You get a portion of the rent and they take care of the rest. I frankly don’t see any other way out for the city, unless it is willing to make the deep cuts necessary to make this work. And from what I’ve been able to gather, there’s no stomach for that either.
So Mr. Mayor, my advice, turn the management of the CIB properties over to a third party. Let them run them and keep a million or two for the city coffers. If your critics say you are washing your hands of the whole thing, tell them you’re just doing what everybody else is.
